EAA/ANN AirVenture Innovation Preview

Inquiries Lead CPAC To Explore Options

Commander Premier Aircraft
Corporation (CPAC) announced Wednesday its Board of Directors will
consider "responsible" offers to purchase the company, after
receiving inquiries about a purchase of, or a controlling interest,
in the company.

As ANN reported, CPAC was
formed in 2005 by 50 owners of Commander aircraft to acquire the
assets of bankrupt Commander Aircraft Company, the former
manufacturer of Commanders. CPAC intended to build new Commanders
and provide parts and service to the existing fleet of some 1,000
Commanders; in the interim, CPAC provided FAA annual inspection,
maintenance, and repair services to Commander owners, as well as
parts it acquired from CAC.

While the company has not yet delivered a new Commander
airplane, it has made strides in other areas. In March 2007,
following an FAA audit of its Quality Control System, CPAC received
Parts Manufacturer Approval from the FAA, authorizing the company
to put aircraft parts in the sky based on its own fabrication
inspection system.

Production equipment has been set up at CPAC’s facility at
Cape Girardeau Regional Airport, and the company says it's ready to
commence ramping up for the assembly of new Commander aircraft.

"While CPAC has always been open to being acquired, it has
concentrated its own efforts on raising production financing and
continuing its ramp up as an independent company," a letter from
the company states. "However, prompted by recent purchase
inquiries, and acknowledging the general paralysis of the financing
market, CPAC’s Board of Directors approved CPAC announcing
that it would consider responsible offers for the purchase of all,
or a controlling interest, in CPAC."